American General is putting a "senior" to work. United States Life Insurance Company in the City of New York (U.S. Life or USL) , a 160 year old life insurance company, founded in 1850, is the latest New York structured settlements underwriting company for American General. The change will follow a merger between U.S. Life and American International Life Assurance Company of New York expected to be completed December 31, 2010.
The qualified assignment company will remain American General Annuity Service Corporation.
Admitted Assets (as of September 30, 2010)
American International Life Assurance Company of New York $6,580,291
United States Life Insurance Company in the City of New York $4,993,438
Financial ratings (both cpmpanies)
A.M. Best A
Meanwhile we "understand" that the "seniors" can't wait to get started on the New York structured settlement adventure...